Toyo Tires is bringing its sustainable content off-road tyres to January’s Dakar Rally, supplying two versions of its Toyo Open Country M/T-R to selected competing vehicles. This means that Toyo tyres containing up to 60 per cent non-fossil materials by weight will negotiate the approximately 5,000-mile route around one of the world’s largest oil producing countries.
At a Board of Directors meeting held today, Toyo Tire Corporation approved plans to discontinue the business operations of its European sales subsidiaries, transferring these to a newly established company. From January 2025, Toyo Tyre (UK) Ltd. and three other sales subsidiaries will “successively cease their business activities.”
In the two years since opening its new plant in Serbia, Toyo Tire Corporation has come to view the facility as “extremely cost-competitive.” The tyre maker completed the installation of production equipment at the site in December 2023, and although the company states in its Integrated Report 2024 that “many obstacles” remain before the plant can “start a vertical take-off toward full-scale operation,” it anticipates that full production systems will be “up and running” before the end of the current business year.
Toyo Tire Corporation has released its Integrated Report 2024, a document that offers a comprehensive overview of the company’s financial and non-financial performance. This report is an annual publication aimed at providing stakeholders with a clear understanding of the company’s activities and its contributions to society.
Toyo Tire Corporation has adopted a seventh-generation Hewlett Packard High-Performance Computing (HPC) system for its proprietary high-precision tyre design platform, T-MODE. This move establishes a robust product development framework to expedite the creation of higher-performance tyres.
Toyo Tire Corporation has announced changes to its organisational structure as well as key personnel appointments. All take effect 1 July 2024.
Toyo Tires is set to compete in the second and sixth rounds of the FIA World Bajas Cup, Baja Greece and Qatar International Baja. For Baja Greece, which takes place between 22 and 25 May, Akira Miura, Toyo Tires’ Open Country Ambassador, will be at the helm of a Toyota Hilux prepared by Overdrive Racing. Miura will also pilot the vehicle in the Qatar International Baja, which will be held between 31 October and 2 November.
Cars equipped with Toyo Proxes slick race tyres containing sustainable materials have own two of first four Nürburgring Langstrecken-Serie races. The Toyota GR Supra GT4 EVOs of team Toyo Tires with Ring Racing were victorious in the first rounds of the Nürburgring Langstrecken-Serie in the SP10 class as well as in 24H Nürburgring Qualifier races.
Toyo Tire Corporation should have no complaints about 2023, at least when looking at the company’s key financial figures. The Japanese firm has announced an 11.2 per cent year-on-year increase in net sales, to 552.8 billion yen (£2.9 billion). Operating income rose 74.6 per cent year-on-year, to 76.9 billion yen (£406.3 million) with a group-wide profit margin of 13.9 per cent.
Toyo Tire Corporation has appointed Koichi Inoue general manager of its Asia & Oceania Sales Division, effective 1 April 2024. Inoue joins the tyre maker from Mitsubishi Auto Leasing Corporation, where he served as the division’s chief executive.
Toyo Tire Corporation has announced changes related to its business within Europe. Effective 1 February, the company is “constructively” dissolving its International Production Division’s Europe Project Development Department. Meanwhile, Takanori Murase will become the new General Manager of Toyo Tire Corporation’s Europe, Sales Department and Sales Division for the Africa & Middle East region, effective 1 April 2024.
At this month’s Tokyo Auto salon, Toyo Tires presented a concept tyre that utilises 90 per cent sustainable materials. Prior to this Sustainable Concept Tyre, the highest ever usage rate of sustainable materials in a Toyo tyre was 50 per cent, as seen in the Open Country MT/R tyres that have seen action in the 2024 Dakar Rally. The tyre maker thus considers the new concept, which “dramatically surpasses this share,” a “step forward towards a more viable future mobility.”
Toyo Tires won the Grand Prize in the uprated SUV category for the Subaru Legacy Boost Gear Package it exhibited at Tokyo Auto Salon 2024.
Toyo Tires has rung in the New Year with several management changes. As of 1 January 2024, Ralf Gutena succeeds Kenta Kuribayashi as president of Toyo Tire Deutschland GmbH. Gutena remains director of sales and marketing at the company’s European head office, Toyo Tire Holdings of Europe GmbH. Kuribayashi continues in his remit as president of Toyo Tire Holdings of Europe GmbH.
The CEOs of 10 leading tyre manufacturers have gathered to confirm a two-year Tire Industry Project (TIP) workplan focused on “sustainability in the tyre lifecycle”. The plans includes targets relating to tyre-emission research and end-of-life tyre management amongst other points.
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